Thursday, April 23, 2009

Crappy Economy and the Credit Crunch

I read this morning that Barrack Hussien Obama plans to meet with the credit card companies in an effort to reduce interest rates and increase disclosure. He is doing this so that the 80% of Americans who have a credit card can feel confident in thier use especially in these hard times.

Let me hark back to the days of yore, actualy not that much yore. The credit card as we know it today originally made it debut in 1958, yes there were some types of credit cards issued by a particular store but Visa, Mastercard and AMEX did not come around until 1958 or so.

How the crap did people live prior to 1958, I mean, where did they get the money to purchase big ticket items, or outfit themselves with a brand new wardrobe, or even just put gas in the car and buy a bottle of soda? They used this amazing little item quaintly reffered to as CASH!

I have heard so many times from young folks how thier parents and grandparents always seem to have money. They seem to think the older generations had a secret formula that allowed them to retire and live out thier lives in realative comfort.

The secret is, THEY DID NOT USE CREDIT! What you say, of course they did, how else did they buy that house, or that car, or that etc. Cash me boyo, cold hard cash!

Once you free yourselves from debt and make the determination that you will forever more never take another drop of credit from anyone you will be amazed at how good you feel everyday.

I personally look at these folks driving the fancy cars and living in the fancy houses and laugh my ass off all the way to the bank, LITERALLY!!!!!!!

I don't worry about my credit rating, I don't worry about someoen stealing my credit card, I don't worry about any of that crap cause I don't use it. It is very liberating when you realize that your credit rating has nothing to do with your character or your financial health. I save, pay my bills and BUY WITH CASH!

I do not have a 72 inch plasma screen, why? Because I don't want to part with my cash. I do not have a 20 foot power boat, why? Cause I like my money better.

Someday when I am around 55 I will retire and live in comfort on what I saved, maybe then I will get those things when I can enjoy them, EVERYDAY if I want to. Or maybe not, maybe I will just buy an island in the South Pacific, sit on the beach and wait to die.

The one thing I am sure of is this, whatever I decide to do I will do it without using credit and without stress.

I think the interest rates on new credit cards should be 100% that way people won't use them and be forced to live by the old addage, if you dan't have the money don't spend the money, also known as don't live on more than you earn!

3 comments:

Beloved Autumn said...

Haha. Its mikaela. I am checking my blog from school and saw that you had posted around 7 hours ago.

We are making some brochure thing in history and I finished MONDAY and yet we are at this computer lab finishing the finished.

Beloved Autumn said...

Haha. Its mikaela. I am checking my blog from school and saw that you had posted around 7 hours ago.

We are making some brochure thing in history and I finished MONDAY and yet we are at this computer lab finishing the finished.

desertgirl said...

I agree with you completely! We are a nation and world of instant gratification when it comes to buying "things". Most of the items that people waste money on end up in a landfill, because they didn't think it through or wait to buy something when they have the cold hard cash.